SPRINGFIELD — The only bank in the city’s Mason Square neighborhood, a TD Bank branch located at 958 State St., expanded its hours of operation from two days to five to better serve its residents.
The bank expanded its hours in November, according to Springfield Mayor Domenic J. Sarno’s office.
TD Bank spokesperson Scott Holden said in an email the expanded hours reflect the bank’s strong commitment to serving the community and meeting the evolving needs of its customers.
During a press conference at the branch Monday celebrating the expanded hours, Sheryl McQuade, TD Bank’s regional president of its New England metro, said the increased hours include the continuation of financial literacy events in the communities the bank serves.
“This unique purpose is rooted in enhancing the lives of our community members, customers, and colleagues,” she said during the press conference.
The move comes several years after the bank announced plans to close the branch. After it said it would close the facility in January 2020, the bank changed course and kept the location open two days a week in response to protests from local officials and customers.
Luiz Lopez, who has lived in the Mason Square neighborhood for 34 years, welcomed the new, extended hours.
“As you look at our neighborhood, we have zero banks,” Lopez wrote in an email. “Having a bank in the neighborhood and giving us the opportunity to succeed financially is critical, and so I applaud TD Bank for resuming operations five days a week.”
He added, “The bank treats us like people and not just a number. We need to rally around TD Bank and make it a success. They are the only bank to believe in our community, and they are putting their money where their mouth is.”
Older residents in the neighborhood regularly visit the branch to use its services, according to Ward 4 City Councilor Malo Brown.
Features include an ATM that operates seven days a week, notary services by appointment, and a specialist who can offer tailored services to small business owners. In addition, a wealth relationship manager and financial advisor are available, according to the bank’s website.
TD Bank currently operates over 1,100 locations and 2,600 ATMs nationwide, with locations in Florida and states stretching from South Carolina to Maine. TD Bank, headquartered in New Jersey, is a subsidiary of Canadian company Toronto-Dominion Bank.
The extended hours of operation of the bank are a result of a collaborative effort between state Rep. Bud L. Williams and U.S. Rep. Richard E. Neal, among other community organizers and residents, according to Williams.
Williams, elated to see the bank returning to full-time hours, said, “It’s a shot in the arm to the community, psychologically.”
“We got a win, and most times within Black and brown communities, we don’t get a lot of victories,” he said. “This is positive news. It’s going to resonate through the community, and it’s going to create hope within the community.”
Brown said a lot of times it took him contacting Williams, Neal and other political figures to keep pressure on the branch to keep it open.
The city councilor said the bank extending its hours is huge. He reiterated that many older adults in the neighborhood use the bank to cash their checks.
Brown said he’s looking for the bank to not just make investments in the neighborhood but also to be more creative with issues surrounding banking and housing.
“I would hope that they would also take on educating the community on banking and financial literacy itself,” he said.
